Rera Filing

The Rules of the Real Estate (Regulations and Development) Act were notified the rules on 28 th  April 2017. After the notification of final rules, the Government of Bihar could not find the proper way to implement RERA in Bihar. The Real Estate Regulatory of Bihar has recently launched the website for registration in the state.  The official website for the Authority has been launched , which will enable all the real estate developers and agents to register themselves with RERA conveniently. Here is the complete information about the RERA fee structure for Promoters and Agents. Fee for Promoters The promoter shall pay a registration fee at the time of application for registration by way of a  demand draft  or  a bankers cheque  drawn on any scheduled bank or through  online payment mode,  as the case may be, for a sum calculated at the rate of : In case of residential project  – Rs 5 per square meter for projects where the...

The real estate sector has always attracted by the NRI investors. NRIs investing in residential and commercial properties and they get good value of their foreign currency in investing in properties of India. They also have to faced some issues like lack of transparency, delays in projects, unless updates from builders and much more. The RERA is implementing to be more attractive and transparent for NRI investors. RERA make some laws for motivating them like Mandatory to regular updating, Tracking of their project from any Country, for any change in the project the developers have to take permission of two-three allotees. These steps would eliminate the faults and NRIs investors would be more ensured about their investment. It would be make the realty sector more transparent and safe for buyers. For More Visit: www.rerafiling.com

In accordance to RERA act the promoters cannot advertise, marketing and sell their projects without RERA registration number and it is mandatory for all to advertise their projects with the registered RERA number. But, in Punjab many builders are prominently neglecting the rules and acts of RERA. Many builders advertising, marketing and selling their projects without the RERA registration number and most of the builders are also advertised their projects on FM radio but without the registration number. The Chairman of Punjab Rera, NS Kang said, we took an action against those builders whose advertisement will be spotted for violating the Rera rules and acts. Concerning about the FM radio advertisement he said, we are planning to advertise a notice for awareness about this issue. For More Visit:www.rerafiling.com

Mr. Dilbagh Singh, the Executive Director of H-RERA said, more than 160 real estate developers have been sent notices for having an invalid license and incomplete application.  According to him, 24 builders out of 160 developers were those, who were notified in the hearing if they didn’t complete their application in the valid time, their application would be rejected. The most of the complaints of homebuyers are delay in possession and extra charges levied by the builders. He also said , until January 15, 2018 for some of the homebuyers date have been fixed for hearing and remaining are in the process and the Haryana RERA website also may finally come in this year by December 31. For More Visit: www.rerafiling.com

Last week, the Bombay High Court (HC) told, MahaRERA announces in his official order that Landowners (Co-promoter) equally liable as that of the Builders (Promoter) as under the Real Estate Act, 2016. MahaRERA declares in his order that the land owners as the co-promoter who executed the agreement with the builders (promoter) of a real estate project are entitled to share the total revenue that will be generated from the sale of apartments in the project or in the terms of constructed project.  For More Visit: www.rerafiling.com

After the big step of demonetisations, the PM Narender Modi’s next big step on Real Estate is to link “Aadhar” with properties because there is the heap of black money in immovable properties. It is informed by the Union Cabinet Minister that ‘Aadhar Linkage’ with property transactions would be made mandatory. Union Housing Minister Hardeep Puri Said, linking “Aadhar” with properties is such a great idea to draw up the black money from real estate and it would also help to crackdown the benami property, but yet now he is not going to make an advanced announcement on that because they take some additional steps towards it. According to Mr.Puri , transactions between two persons can’t be completely transparent but it could be monitored large value transactions such as property and air tickets.  For More Visit: www.rerafiling.com

On Tuesday, The Chairman of UP-RERA, Mukul Singhal and principal secretary of housing & urban planning held a meeting with builders, buyers and officials in Noida Sector 6, for clear out the confusion over the carpet area issue. During the meeting, Mr. Mukul Singhal said that the projects should be done on the ground of the Carpet area and he will also discuss this issue with the officials of UP stamps and registration department. If the properties registration continues on the basis of the super built up area the buyers have the right to plead a file in the Allahabad High Court. For removing this flaws and executing RERA in UP more efficiently, the RERA has also started drafting “Agreement for Sale” for buyers and builders. For More Visit: www.rerafiling.com